Even if he made a few incursions above, the $ 1,20,000 area has generally hid the last Bitcoin rally. The volatility rebound on global actions last week (return from VIX> 20) also resulted in gain in the cryptoactive market.
From a technical point of view, Bitcoin came back in contact with its mobile average 50 days and it came to test the ancient summit of May in the $ 112,000 zone, a zone which has been supporting for a few hours. Also note the return to contact with the oblique (in red) which, as we described in the previous analyzes, acts as a kind of “pivot area”.
We are therefore in a technically dense area, an area that acts, for the moment, as a support. The next movements on Bitcoin may depend, as was the case on Thursday and Friday, movements on the equity markets, and in particular the American markets.
If the SP500 makes an incursion under 6,212 points, its Friday support zone, and Bitcoin follows the trend (“risk-off”) with a return on $ 112,000, then we could review Bitcoin navigate in the $ 110,000/$ 100,000 zone for a while.
